Kinross Gold Corporation (KGC) Receives $5.19 Average Price Target from Analysts
Shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) have been given a consensus recommendation of “Buy” by the sixteen brokerages that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.19.
A number of research firms recently commented on KGC. BidaskClub downgraded Kinross Gold Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. TD Securities boosted their price target on Kinross Gold Corporation from $5.50 to $6.00 and gave the company an “action list buy” rating in a research note on Thursday, August 3rd. National Bank Financial reaffirmed a “sector perform market weight” rating on shares of Kinross Gold Corporation in a research note on Thursday, August 3rd. Berenberg Bank reaffirmed a “hold” rating and issued a $4.60 price target on shares of Kinross Gold Corporation in a research note on Friday, August 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Kinross Gold Corporation in a research note on Friday, August 18th.
Kinross Gold Corporation (NYSE:KGC) traded down 1.968% during midday trading on Monday, hitting $4.235. 3,667,807 shares of the stock traded hands. The firm’s 50 day moving average is $4.44 and its 200-day moving average is $4.08. The stock has a market capitalization of $5.28 billion, a PE ratio of 100.833 and a beta of 0.12. Kinross Gold Corporation has a 12-month low of $2.88 and a 12-month high of $4.91.
Kinross Gold Corporation (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, August 2nd. The mining company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.02. Kinross Gold Corporation had a return on equity of 3.63% and a net margin of 1.54%. The company had revenue of $868.60 million during the quarter, compared to the consensus estimate of $825.02 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The company’s revenue was down .9% on a year-over-year basis. On average, analysts anticipate that Kinross Gold Corporation will post $0.11 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI grew its position in Kinross Gold Corporation by 56.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,033,931 shares of the mining company’s stock valued at $8,278,000 after acquiring an additional 730,634 shares during the last quarter. Contrarius Investment Management Ltd grew its position in Kinross Gold Corporation by 4.0% in the second quarter. Contrarius Investment Management Ltd now owns 16,214,176 shares of the mining company’s stock valued at $65,992,000 after acquiring an additional 626,077 shares during the last quarter. State of Wisconsin Investment Board grew its position in Kinross Gold Corporation by 2.4% in the second quarter. State of Wisconsin Investment Board now owns 1,350,184 shares of the mining company’s stock valued at $5,479,000 after acquiring an additional 31,400 shares during the last quarter. FMR LLC grew its position in Kinross Gold Corporation by 18.7% in the first quarter. FMR LLC now owns 3,643,767 shares of the mining company’s stock valued at $12,851,000 after acquiring an additional 573,328 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Kinross Gold Corporation by 15.1% in the first quarter. Wells Fargo & Company MN now owns 91,788 shares of the mining company’s stock valued at $322,000 after acquiring an additional 12,016 shares during the last quarter. Hedge funds and other institutional investors own 59.56% of the company’s stock.
Kinross Gold Corporation Company Profile
Kinross Gold Corporation is a gold mining company. The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties. The Company’s segments include Fort Knox, Round Mountain, Bald Mountain, Kettle River-Buckhorn, Kupol, Paracatu, Maricunga, Tasiast and Chirano.
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